GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) Stock Short Interest Drops 52.2%

GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) was the recipient of a significant decrease in short interest during the month of September. As of September 15th, there was short interest totaling 63,219 shares, a decrease of 52.2% from the August 31st total of 132,236 shares. Currently, 0.6% of the company’s stock are sold short. Based on an average daily trading volume, of 93,165 shares, the days-to-cover ratio is currently 0.7 days.

Hedge Funds Weigh In On GraniteShares HIPS US High Income ETF

A number of institutional investors have recently modified their holdings of HIPS. Maridea Wealth Management LLC boosted its holdings in shares of GraniteShares HIPS US High Income ETF by 14.0% during the 1st quarter. Maridea Wealth Management LLC now owns 45,248 shares of the company’s stock worth $523,000 after buying an additional 5,547 shares during the period. Chicago Partners Investment Group LLC lifted its position in GraniteShares HIPS US High Income ETF by 2.8% during the 1st quarter. Chicago Partners Investment Group LLC now owns 34,387 shares of the company’s stock worth $411,000 after acquiring an additional 926 shares during the last quarter. Legacy Wealth Managment LLC ID acquired a new position in GraniteShares HIPS US High Income ETF during the 2nd quarter worth $280,000. Gateway Wealth Partners LLC bought a new stake in GraniteShares HIPS US High Income ETF during the first quarter valued at about $126,000. Finally, Capital Square LLC bought a new stake in GraniteShares HIPS US High Income ETF during the second quarter valued at about $125,000.

GraniteShares HIPS US High Income ETF Stock Up 0.3%

Shares of NYSEARCA:HIPS traded up $0.03 on Tuesday, reaching $10.85. The company had a trading volume of 60,199 shares, compared to its average volume of 65,258. GraniteShares HIPS US High Income ETF has a twelve month low of $10.79 and a twelve month high of $12.30. The stock has a 50-day moving average price of $11.59 and a 200 day moving average price of $11.63. The stock has a market capitalization of $105.25 million, a P/E ratio of 11.61 and a beta of 0.64.

GraniteShares HIPS US High Income ETF Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Monday, September 28th will be issued a $0.1075 dividend. This represents a $1.29 annualized dividend and a yield of 11.9%. The ex-dividend date is Monday, September 28th.

About GraniteShares HIPS US High Income ETF

The GraniteShares HIPS US High Income ETF (HIPS) is an exchange-traded fund that is based on the TFMS HIPS index. The fund tracks an index of assets that tend to produce high income and pass through that income without being taxed at the constituent level. These include REITs, MLPs, BDCs and debt-based closed-end funds. HIPS was launched on Jan 6, 2015 and is managed by GraniteShares.